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Union Pacific to Buy Norfolk Southern in $85 Billion Railroad Deal

The merger would create the United States’ first coast-to-coast rail network, spanning 50,000 miles and 43 states.

© Ross D. Franklin/Associated Press

A Union Pacific freight train in Eloy, Ariz. in April. The company said it was offering a combination of cash and stock for Norfolk Southern.
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Sean ‘Diddy’ Combs, Awaiting Sentencing, Asks Judge to Release Him From Jail

Lawyers for the music mogul, who is to be sentenced in October on prostitution charges, filed court papers saying he would sign a $50 million bond.

© Jordan Strauss/Invision, via Associated Press

Sean Combs, who was convicted on July 2 of transportation to engage in prostitution, pictured in 2022 at an awards ceremony in Las Vegas.
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Are Cracks Appearing in Trump’s Antitrust Strategy?

Two top officials are reportedly out of a job, amid reported disagreements within the Justice Department over how it regulates deals.

© Pete Kiehart for The New York Times

Gail Slater, a top antitrust official in the Trump administration, is reportedly down two top deputies as tensions within the agency grow.
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Russian Strike on Prison Kills 16, Ukraine Says

The attack, which came just hours after President Trump gave the Kremlin a new deadline to work toward ending the war, was part of a wave across the country, the authorities said.

© Mykola Synelnykov/Reuters

Workers clearing the streets in Kamianske, Ukraine, on Tuesday, after a hospital was hit in a Russian strike.
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Europe Made Major Trade Concessions to Trump. How Did That Happen?

Some European politicians are dismayed that the European Union did not drive a harder bargain, but facing the threat of a damaging trade war, officials say they had little choice.

© Tierney L. Cross/The New York Times

President Trump and the president of the European Commission, Ursula von der Leyen, announcing a trade deal on Sunday in Turnberry, Scotland.
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Trump Is Winning His Trade War. What Will That Mean for the Economy?

The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.

© Tierney L. Cross/The New York Times

President Trump and Ursula von der Leyen, the head of the European Commission, announcing a trade deal Sunday in Scotland. Many economists continue to predict that Mr. Trump’s tariffs will result in higher prices for U.S. consumers.
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Powell Under Siege as Fed Plans to Stand Pat on Rate Cuts

Jerome H. Powell, the Federal Reserve chair, is facing relentless attacks from the president, a lively campaign to replace him and divisions in his own ranks over when to cut interest rates.

© Haiyun Jiang/The New York Times

While President Trump has signaled that he would let Jerome H. Powell, the Federal Reserve chair, serve out his term, Mr. Trump does have a draft letter dismissing him.
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Shoppers Embrace ‘Christmas in July’ Amid Rising Costs and Tariff Limbo

People are starting their holiday shopping earlier this year, using summer sales from retailers like Amazon and Walmart to save time and money.

© Edmund D. Fountain for The New York Times

A “Christmas in July” event for small businesses in Mobile, Ala., this month featured more than 40 local vendors and boutique retailers.
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Cease-Fire in Deadly Thailand-Cambodia Conflict Gets Armies’ Backing

The talks between commanders on both sides were seen as a crucial test of whether the cease-fire deal reached on Monday would result in a lasting peace.

© Royal Thai Army, via Agence France-Presse — Getty Images

A photograph released by Thailand’s army on Tuesday showed Thai commanders, left, meeting with Cambodian counterparts near the two countries’ border.
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Starmer Is Edging Closer to Recognizing a Palestinian State, UK Officials Say

Two government officials said Britain was actively weighing the recognition of a Palestinian state, in a shift driven by public pressure over starvation in Gaza.

© Tierney L. Cross/The New York Times

Prime Minister Keir Starmer of Britain at President Trump’s golf club in Turnberry, Scotland, on Monday. Mr. Starmer, the officials said, resisted Palestinian state recognition in the past because he viewed it as a largely “performative” gesture.
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What We Know About the Shooting in Midtown Manhattan

Four people were killed, including an off-duty New York City police officer, when a gunman opened fire in an office tower before fatally shooting himself, officials said.

© Dakota Santiago for The New York Times

N.Y.P.D. officers on the scene of the shooting, in Manhattan on Monday evening.
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Bangladeshi Community Mourns Officer Killed in Midtown Manhattan Shooting

Didarul Islam had a hard-won house, a job that brought respect and the esteem of his neighbors. “He said serve the community and you’ll do fine,” a friend said.

© Vincent Alban/The New York Times

An ambulance carrying the body of Didarul Islam, a police officer killed in the Midtown shooting, in Manhattan early Tuesday.
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